How to Pay For Your Aircraft Maintenance Training
Posted: August 18, 2020 | Author: Jaidyn Crookston | Read Time: 8 minutes
Do you want to be an aviation maintenance technician (AMT), also known as an A&P Mechanic?
If you do, then I’m sure you’re looking for a way to pay for your training. I know that it can be hard for many students to find funding for their maintenance training, but that doesn’t mean it’s impossible. If you know where to look and take the time to find funding, you should be able to pay for your maintenance training.
There are many ways for you to pay for your maintenance training. Some of these ways include scholarships, student loans, federal financial aid, and earning the money yourself.
Scholarships:
One of the best ways to pay for your AMT training is by applying for scholarships. Not everyone will get a scholarship, of course, but if you seek them out and apply to as many as you can find, your chances of getting one or more will increase drastically.
There are many scholarships available to those wanting to become A&P Mechanics. Many companies in the industry and some AMT schools have their own scholarships available to students. If you’re going to an AMT school that’s attached to a university, there will be many more scholarships available to you as well. As a university student, you’ll qualify for academic scholarships and other scholarships offered by the university.
Make sure you apply to a lot of scholarships because it’s possible for you to entirely fund your AMT training this way, although chances are you’ll need to come up with multiple funding sources.
Federal financial aid:
If you attend a university AMT school you may qualify for federal financial aid.
FAFSA looks at your income and financial needs and determines whether or not you’re eligible for student loans, grants, and other federal aid. Every year, millions of dollars are awarded to university students who fill out the FAFSA form.
One type of federal aid that you don’t have to pay back is Pell Grants. If you qualify to receive a Pell Grant, all you’ll need to do is fill out the FAFSA form and wait for the university to tell you how much money you’ll receive. You’ll have to fill out the FAFSA form and qualify each year to continue receiving federal funds. Pell Grants and other federal aid is how many AMT students pay for their maintenance training.
Student loans:
Another way to pay for your aircraft maintenance training is by taking out student loans. You’ll eventually have to pay back any loans you take out, so make sure you exhaust your other options before turning to this one.
You can take out student loans through your university, a bank, or a private institution. Student loans are a great way to invest in yourself and your education, especially because A&P Mechanics typically make really good money, so you should be able to pay off your student loans without much interest once you start working as a mechanic.
Having a job while in school:
Even if you get scholarships, financial aid, and student loans, you may still want to work while going to school. This is an especially good option if you aren’t able to get much other funding. Many students choose to have a job while in school, but it isn’t necessary and is completely up to you whether you think you’ll have enough free time to have a job.
I’ve been working as a writer for SUU Aviation for over a year and a half now while going to school myself. I may not be in the AMT program, but I am really busy with schoolwork and other responsibilities, so I can imagine how busy you would be if you were working while also training to repair aircraft and taking classes. I love my job, and I love being around the hangar and the people I work with, but it’s definitely hard to juggle everything I have to do every day.
If you do want to work while in school, then you probably won’t want to work more than a part time job, like me. AMT training will take up a lot of your time and you’ll have plenty of studying to do.
Some AMT schools hire student maintenance workers after they’ve had a few semesters of training. If you’re able to work as a mechanic at the flight school, you’ll be able to get some great real world experience and start building your resume. This will help you be extra prepared to get a full time mechanics job after getting your licenses.
Having a job while in school will help you pay for your training and education, which is why I got this job. It’s always good to have this as an option, even if right now you don’t think you’ll want a job while in training.
Saving money:
No matter where you are in your training—whether you’re still in high school, or you’re a veteran looking into becoming a mechanic, or you’ve already been accepted to AMT school—it’s never too early to start saving money.
By being careful with your money now and keeping your goal of becoming a mechanic in mind, you may be able to save up enough money to supplement any scholarships and financial aid you receive. The more money you’re able to save now, the fewer student loans you’ll have to take out. And the fewer student loans you take out, the more financially stable and self reliant you’ll become.
You may find it helpful to stick to a budget. By planning out your finances and making sure you aren’t over spending anywhere, you’ll be able to save money for AMT school.
Veterans:
If you’re a veteran and have the Post 9/11 GI Bill®, then you may not have to pay for your AMT training yourself. There are a few AMT schools that are able to accept this GI Bill® for training. One of the only AMT schools able to accept full benefits is SUU Aviation. At SUU Aviation, veterans typically only need to pay for books and supplies. The rest of your training may be covered by the VA.
In addition to having their maintenance training paid for by the VA, many veterans are able to get Basic Allowance for Housing (BAH). This means that even your housing costs may be covered while you’re training to be an aircraft maintenance technician. Make sure you look into this incredible opportunity before starting your training.
If you want to use your VA Benefits to pay for your AMT training, you’ll need to contact the university’s veterans office. Chances are that you won’t need to do much besides fill out some paperwork. If you’re a veteran, funding your AMT training will be easy.
Salary and demand:
If you’re worried about being able to fund your maintenance training, remember that AMT school is an investment. You may be spending money now, but you’re setting yourself up for a great future. Once you’ve established yourself as an A&P Mechanic, you’ll start making great money. According to salary.com, the average salary of a jet A&P Mechanic is $86,000 a year.
Not only do A&P Mechanics make great money, they also have a great Return on Education (ROE). The ROE of any profession is how much money someone can expect to earn for every $1 they spent on their education. The ROE for A&P Mechanics is $63. This means that as a mechanic you can expect to earn about $63 for every $1 you spent on your education. To put that in perspective, the ROE of a doctor is $22 and the ROE of an engineer is $40.
A&P Mechanics are in high demand. Because the aviation industry itself is expanding and growing, more and more A&P Mechanics are needed to keep up. A&P Mechanics play a very important role in the aviation world because without mechanics, airplanes and helicopters couldn’t fly. Because the aviation industry is growing and more aircraft are being used, A&P Mechanics are in very high demand. This means that your job will most likely be secure for years and years to come and as a mechanic, you won’t have to worry about not being able to find a job.
Even though COVID-19 is challenging the industry right now, that doesn’t mean it’s any less of a good time to become an aircraft maintenance technician. A&P Mechanics are still in high demand, and will continue to be in high demand for the foreseeable future. Many potential students have asked whether now is actually a good time to start training because of COVID-19, and the answer is yes. Keep in mind that when you start training now (or in the coming months), it will still take two years for you to graduate and enter the industry. That means the industry will have two years to recover from the worldwide crisis we’ve found ourselves in and get back on its feet. From what we can tell right now, this crisis should be over, or at least greatly improved, within two years, so the industry will be ready for you when it’s time.
If you want to become an A&P Mechanic, I recommend attending SUU Aviation. SUU Aviation is one of the leading AMT schools in the nation and has the most up-to-date AMT training available. Not only that, but the people who run the AMT program are seriously amazing and truly want what is best for their students. I’ve seen this first hand and I know that if you train with SUU Aviation, you will as well. If you have any questions about the program or to learn more about how to pay for your aircraft maintenance training, contact SUU Aviation.
This article was published more than 3 years ago and might contain outdated information or broken links. As a result, its accuracy cannot be guaranteed.
Tags: Aviation
